Edition sells 57.5% stake back to Onion and top executives for $2 mil

SINGAPORE (Oct 5): Edition Limited has sold its 57.5% stake in Korea-incorporated Onion Holdings back to the company and three of its top executives for KRW1.78 billion ($2.2 million).

Onion is in the business of providing mobile telecommunication services. It has two subsidiaries which develop mobile games and ringtones and a 37.1% stake in Guangzhou Ebrain Information Technology Co, which provides services teaching English through phones.

The three top Onion executives who are acquiring a 6.43% stake each are executive director Lee Jei Hoon, CEO Jang Jong Jung and co-founder and CTO Hur Jung Young. The remaining 38.2% stake will be acquired by Onion.

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